Hariprasad urges SIT probe into cooperative bank irregularities involving BJP MLA

Congress member of the Legislative Council B.K. Hariprasad on Wednesday demanded a Special Investigation Team (SIT) probe into the alleged irregularities in the Mahalaxmi Cooperative Bank in Malpe, Udupi district.

Speaking in the Legislative Council, he alleged that a fraud of over ₹25 crore had been committed by creating fake documents showing that customers had availed loans from the Mahalaxmi Cooperative Bank.

“The chairman of this bank is a local Member of the Legislative Assembly (MLA), and there is suspicion of large-scale financial irregularities. Recently, the manager of the same bank died by suicide. However, on the face of it, it appears to be a murder, and there may be involvement of unknown persons,” he alleged, demanding that an SIT be constituted to investigate the case and that an administrator be appointed to the bank immediately.

Higher Education Minister Basavaraj Rayareddy, replying on behalf of the Cooperation Minister, said, “This is a serious case. I will also request the Minister and the State government to constitute an SIT for a thorough investigation.”